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Netflix Adds IPhone, IPod Touch Application to Stream TV Programs, Movies
Netflix Inc., the online movie- rental service, introduced an application on Apple Inc.’s iPhone and iPod Touch for subscribers to watch streaming movies and television shows.
The application is free to download from iTunes and requires a subscription to Netflix, whose plans with streaming and mail-order rentals start at $8.99 a month, the Los Gatos, California-based company said today in a statement.
Netflix is expanding its online and mobile business to compete with Coinstar Inc.’s Redbox movie-rental vending machines, pay-per-view on cable and Hulu LLC’s online TV streaming. Netflix is spending money on exclusive content for its “Watch Instantly” service, recently adding films from pay- TV channel Epix, movies owned by Relativity Media LLC and TV shows such as “Nip/Tuck” from Warner Bros. Home Entertainment.
Netflix already delivers content through the Web to game consoles, Blu-ray players, TV sets, PCs and Apple’s iPad. About 61 percent of Netflix’s 15 million subscribers use the online service, the company said last month.
The market for online video is becoming more competitive, as Apple plans to let iTunes users rent TV shows for 99 cents, people familiar with the plan said this week.
Netflix users will be able to continue watching exactly where a video stream was stopped, even when switching between devices tied to their Netflix account. The new application can deliver video through Wi-Fi and 3G networks, the company said.
The application grants access to customers’ instant queues, recommended videos and new arrivals, and also allows for searching by title or genre.
Netflix rose $1.59 to $125.84 at 4 p.m. New York time in Nasdaq Stock Market trading. The shares have more than doubled this year. Apple, based in Cupertino, California, fell $2.61 to $240.28 and have advanced 14 percent this year.
To contact the reporter on this story: Sarah Rabil in New York at srabil@bloomberg.net
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